Life sciences as an Industry has always been in demand. The diseases and their implications are growing day by day, leading to the expansion of Healthcare ecosystem which includes Hospitals, Pharma companies and medical equipment manufacturers.
This has given rise to consulting service providers who stabilize, transform or improve the way of functioning of the overall healthcare/life sciences ecosystem to provide better services/outcome to the end user, this creates a demand for medical folks with Business consulting knowledge and this proves the rising demand for LS consulting professionals.
Talent Pool study
Let’s see the talent pool of LS resources and their Qualification, Compensation and Company wise availability.
This has always been one of the primary criterion that separate LS consulting Professionals from the rest of the Medical personnel. Consulting professionals usually have an MBBS/Pharma degree with an MBA. Given below is the distribution of Professionals into LS qualification wise in India.
Location wise analysis
Like all other consulting professionals, LS consulting folks are spread across the country & the globe. We analyzed a sample data of1000 LS Consulting professionals and PFB the chart. Kolkata, Ahmedabad, Cochin form Tier-2 locations where LS consulting professionals are based.
The compensation depends on factors like Experience and qualification, but specifically in the LS consulting field, Doctors with MBA degrees from premier colleges are paid high. The appraisal season is currently underway and companies looking to hire LS folks are to shell out more to hire quality resources.
|2-5 years||5-12 lacs|
|5-10 years||15-25 lacs|
|10-15 years||20-40 lacs|
|15+ years||30-50+ lacs|
Our take on the LS Hiring…
We see a rise in the LS related requirements from our consulting clients. Either they are expanding the LS consulting teams or setting up LS consulting practices, all owing to the increasing demand in the LS industry. Clients usually prefer Doctors with MBA degrees from Tier-1 B-schools.